Women’s Entrepreneurship and Microfinance by Unknown

Author:Unknown
Language: eng
Format: epub
ISBN: 9789811042683
Publisher: Springer Singapore

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Then, the technical efficiencies m are regressed on a set of factors denoted by z.

Next,

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ε i represents a random disturbance term.

v it is the random ‘noise’ component of the error term which represents random, uncontrollable factors that affect total production, such as weather, probabilistic factors, labor strikes, or machine performance. These factors (and their impact on production) are assumed to be independent of each other. They are identically distributed as normal variables, and the value of the error term in the production relationship is, on average, equal to zero.

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